SOURCE: Pernix Group, Inc.

Pernix Group, Inc.

March 18, 2010 21:10 ET

Pernix Group, Inc. Moves to OTC Bulletin Board From Pink Sheets

LOMBARD, IL--(Marketwire - March 18, 2010) -  Pernix Group, Inc. (OTCBB: PRXG), an international company specializing in the construction, power generation and manufacturing of AM/FM and VHF broadcast equipment markets, has commenced trading of its common stock on the OTC Bulletin Board as of March 17, 2010.

Nidal Z. Zayed, chief executive officer and president of Pernix Group, Inc., said, "Joining the OTC Bulletin Board is an exciting step for Pernix. We recently began the process of moving to the Bulletin Board and are pleased that we could accomplish this initiative in a relatively short period of time. Our ongoing goal is to achieve growth and enhance shareholder value, and this move supports that strategy and improves our visibility in communicating the Pernix story to a broader base of potential individual and institutional investors."

In 2009, Lombard, Illinois-based Pernix Group, Inc. changed its name from Telesource International to better reflect the Company's vision and support its strategic direction as it plans for further expansion in U.S. and international markets.

Spartan Securities Group, Ltd. of St. Petersburg, Florida is the market maker for Pernix Group's common stock. Chicago-based Dresner Corporate Services is the investor relations firm for Pernix Group.

About Pernix Group, Inc.
Pernix Group is an international company investing in three major business segments with extensive experience in managing operations and projects globally. Its two primary segments focus on the construction and power infrastructure industry, offering diversified general contracting, design/build and construction management services to private clients as well as public agencies. The third business segment, through its majority interest in TransRadio SenderSysteme, is the manufacturing and installation of AM/FM and VHF broadcast equipment. Pernix has subsidiaries in Germany, in the South Pacific in the Republic of Fiji and in the Western Pacific islands of Tinian and Saipan in the Commonwealth of the Northern Mariana Islands (CNMI).

Pernix Group has executed successful, construction projects around the globe, including the recently completed new U.S. Embassy Compound in Fiji, and power plants for the governments of Fiji and CNMI, which Pernix also manages and operates. Combined with numerous broadcast equipment installations in Asia, Europe and Africa, Pernix is active in countries throughout the world. Pernix Group's international headquarters are located in Lombard, Illinois. Additional information is available at www.pernixgroup.com.

Certain of the statements made in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in greater detail in the Company's filings with the U.S. Securities and Exchange Commission.

Contact Information

  • For additional information on Pernix Group, Inc. contact:
    Greg Grosvenor, Chief Financial Officer
    Pernix Group, Inc.
    Tel: (630) 620.4787
    ggrosvenor@pernixgroup.com

    Or

    Steve Carr, Managing Director
    Dresner Corporate Services
    Tel: (312) 726.3600
    scarr@dresnerco.com

    Pernix Group, Inc.
    860 Parkview Blvd.
    Lombard, Illinois 60148
    P: (630) 620-4787
    F: (630) 620-4753